US job openings fall in August as layoffs decline, labour market holds steady

US job openings declined in August, a sign that demand for workers is easing even as the broader labour market remains stable. According to the Job Openings and Labor Turnover Survey (JOLTS) released by the Bureau of Labor Statistics, openings fell by 256,000 to 7.079 million on the last day of the month.

The report also showed that layoffs declined over the same period, suggesting that employers are still holding on to staff despite the pullback in hiring. The combination points to a labour market that is gradually cooling rather than contracting sharply.

Job openings are closely watched as a gauge of labour demand and a signal of underlying wage and inflation pressures. A sustained decline in vacancies, without a corresponding rise in layoffs, is generally seen as a sign of a labour market moving toward balance.

The latest figures come as policymakers continue to assess the strength of the US economy and the path of interest rates. The JOLTS data is one of several indicators used to judge whether the jobs market is loosening enough to ease price pressures without tipping into a broader downturn.